Derek W. Freihaut
Jing Liu
Arthur R. Randolph II
Terrence D. Wright
Timothy C. Mosler
Robert J. Walling III
Nicholas E. Alicea
Pinnacle has always worked with us to identify what information was needed, obtain the info and present important results.
Pinnacle helps alternative market risk owners, captive managers and service providers determine risk retentions that optimize the balance between the cost of risk transfer and loss volatility.
Pinnacle has consultants who are experienced as expert witnesses in arbitrations and also ARIAS-certified arbitrators.
Pinnacle consultants deal with auditors daily, assisting them in serving their customers and evaluating the work products of other actuaries.
Pinnacle strives to construct benchmarks for any analysis, whether ratemaking, loss reserving or some other use, as close as possible to replicating the nature of the underlying data being reviewed.
Pinnacle provides loss reserve analyses and other diagnostics in support of collateral negotiations associated with deductible and/or self-insured retentions.
Today, no industry is changing as quickly or fundamentally as health care. At the same time, escalating medical professional liability costs have become a critical issue for health care providers and those seeking to improve health care value and outcomes.
Pinnacle’s experts understand the spectrum of risks inherent in delivering health care services in today’s litigious environment. We have provided actuarial consulting services in every aspect of medical professional liability insurance at the local, state and national levels. Our customers include health care providers, captive managers, medical professional liability insurers, insurance regulators, legislators, industry associations, and government insurance programs.
By working with the unique issues associated with numerous specialties and state reform types, as well as both traditional and alternative insurance programs, our experience equips us to develop accurate and efficient strategies to help you strategically manage your health care liability exposures.
If you’re a health care provider pursuing alternative risk management strategies such as captive insurance companies and risk retention groups, we can help by designing your program, estimating the impact of modifying or eliminating certain services, and even investigating the cost-benefit of new technology to reduce medical errors.
Our expertise with a wide variety of health care specialties includes:
June 2018 APEX Webinar State of the MPL Market Authored by Timothy C. Mosler and Arthur R. Randolph II.
Will Severity Increases Finally Drive Premiums Higher? Inside Medical Liability Authored by Timothy C. Mosler.
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Captive Feasibility Study More »
When a regional physicians group, with a moderate deductible program realized they were not getting due credit for more than a decade of exceptional loss experience, they decided to explore other options.
They chose Pinnacle specifically due to our expertise in captive and self-insurance programs.
Initially, Pinnacle discussed options including segregated cell captives, single parent captives, and even risk retention groups once they began to consider marketing the program to other similar regional physician groups.
While the customer was considering the structural alternatives, Pinnacle pursued a funding analysis. Credibility weighting the customer’s experience with industry benchmark data, produced estimates of expected losses and loss variability in several different loss layers. This not only showed the additional risk associated with higher limits of self-insurance, but was also tremendously valuable in negotiations with fronting carriers and reinsurers.
The client decided to increase the deductible on the coverage provided by their insurer, which offered more responsive pricing due to Pinnacle’s funding analysis and to form an off-shore captive providing deductible buyback coverage. The comfort level our client had with the insured’s services also influenced the decision.
Pinnacle also worked with the captive manager to develop the feasibility study and pro forma financial statements that become the foundation of the captive application. The application was approved as submitted and the captive is running quite successfully.
Medical Malpractice Damage Caps More »
A state insurance regulator asked Pinnacle to determine the potential impact of several proposed tort reforms, including a change to non-economic damage caps for medical professional liability claims. Pinnacle worked with medical society to identify the most appropriate claims databases for assessing the potential legislative change. Our detailed analysis not only considered data from that state, but several others to stress test the results and provide a range of reasonable outcomes. In many cases, the specific reform’s effect, for example “I’m Sorry” legislation, was very difficult to isolate. Through this industry analysis, we identified differences well beyond a simple loss limitation to provide a more complete review of potential environmental changes that could be expected in the state.
This comprehensive analysis helped our client identify the effect of various legislative options, which empowered them to be a strong voice in the legislative debate and to influence policymaking in the state.
Medical Malpractice PCF More »
Pinnacle has developed an excellent working knowledge of patient compensation and birth-related injury funds in many jurisdictions, including Florida, Indiana, New Mexico, Ohio, Virginia, and Wisconsin. In several of these states, we not only complete regular rate indications and loss reserve analyses, we are frequently involved in legislative costing of proposed laws that may impact the fund. These proposed laws have included addition, modification and removal of damage caps, changes to primary coverage limits, revisions to program eligibility or mandatory coverage requirements, and program benefits changes. In all of these states, policymakers have benefitted from Pinnacle’s expert analysis, understandable reports and insightful advice.
At Pinnacle, we partner with you to explore whatever path it takes to find the answers you need.
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July 24, 2018 MCIA
July 26, 2018 IABA